The site measures 68.52 hectares and is located 22km north of Melbourne’s central business district (CBD) within the Craigieburn West Precinct Structure Plan area.
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The site is located within a close range of transport infrastructure, shopping centres and employment nodes.
According to Ho Bee Land, the acquisition presents a major master planned development opportunity within Melbourne’s northern growth corridor.
The site is expected to deliver about 1,150 residential lots, parks and wetlands.
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The acquisition is said to be in the group’s ordinary course of business, and is in line with its objective to develop master-planned residential communities in Queensland and Victoria.
Shares in Ho Bee Land closed 1 cent lower or 0.35% down at $2.82 on Nov 2.
